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| Danny Finkle |
MIAMI, FL – HFF announced it has closed the sale of Crossroads
Market and Neapolitan Way, two Publix-anchored shopping centers in Naples,
Florida.
HFF
marketed the properties on behalf of the seller, Madison Marquette Retail
Services. A private real estate fund
advised by Crow Holdings Capital – Real Estate purchased the assets.
Crossroads Market is located at 6029 Pine Ridge Road near
Interstate 75 and at the entrance of The Vineyards golf course residential
community. The property is 98.4 percent
leased to tenants including Publix, Walgreens, Crunch, Physicians Regional
Health Care and Chase Bank.
Neapolitan Way is situated on 14.5-acres at 4601 Tamiami Trail with
direct frontage on US Route 41. The
92.9-percent-leased center features tenants including Publix, Walgreens and
Bill Smith Appliances.
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| Luis Castillo |
The
HFF investment sales team representing the seller was led by senior managing
director Danny Finkle, managing director Luis Castillo and
analyst director Kimberly Flores.
“Crossroads Market and Neapolitan Way are two of Naples’ most productive
and successful retail centers,” Finkle says.
“The infill locations and exceptional tenancy have been key ingredients
to each property’s past performance and future success.”
HFF’s investment sales team secured more than $1.68 billion
in sales of retail assets nationally through the end of the second quarter of
2014. In Florida, HFF closed more than
$530 million in retail transactions across all capital markets platforms during
the same period.
Madison Marquette Retail Services (MMRS) is a premier real
estate property management, leasing, marketing and development firm specializing
in mixed-use, urban street and infill, community and specialty/entertainment
retail properties in top tier markets across the United States.
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| Kimberly Flores |
Since 1998, Crow Holdings Capital – Real Estate (CHC-RE) and
Crow Holdings-affiliated entities have managed six private equity real estate
funds that are designed to generate current income and benefit from the capital
appreciation of portfolio investments.
Equity capital from these funds totals approximately $4.1 billion, of
which approximately $675 million has been committed by Crow Family
Holdings. Over the past 15 years, the
six funds have actively acquired existing properties and development parcels of
all types, both independently and with operating partners.
As of June 30, 2014, these real estate funds
have acquired or developed more than $12.6 billion in assets comprised of more
than 43 million square feet of industrial, more than 12 million square feet of
retail, more than eight million square feet of office, approximately 54,000
multifamily units, 387 convenience & gas stores, more than 8,100 hotel
rooms and almost 6,000 acres of lot development.
For more information on Crow Holdings Capital- Real Estate, visit
CrowHoldingsCapital.com/real-estate/about-us.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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